Stifel Financial Corp Trims Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Stifel Financial Corp reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,864 shares of the construction company's stock after selling 27,197 shares during the period. Stifel Financial Corp owned approximately 0.47% of Advanced Drainage Systems worth $57,343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WMS. West Oak Capital LLC grew its position in shares of Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company's stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. grew its position in Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company's stock worth $30,000 after acquiring an additional 162 shares in the last quarter. National Bank of Canada FI purchased a new position in Advanced Drainage Systems in the second quarter worth $45,000. Huntington National Bank grew its position in Advanced Drainage Systems by 123.1% in the third quarter. Huntington National Bank now owns 386 shares of the construction company's stock worth $61,000 after acquiring an additional 213 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Advanced Drainage Systems by 65.2% in the second quarter. GAMMA Investing LLC now owns 451 shares of the construction company's stock worth $72,000 after acquiring an additional 178 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Up 0.9 %

Shares of NYSE:WMS traded up $1.14 during midday trading on Friday, hitting $129.88. 720,920 shares of the stock traded hands, compared to its average volume of 763,857. The stock has a market capitalization of $10.07 billion, a PE ratio of 20.68, a P/E/G ratio of 1.19 and a beta of 1.48. The business's 50 day moving average is $144.86 and its two-hundred day moving average is $154.87. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. Advanced Drainage Systems, Inc. has a one year low of $122.61 and a one year high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The business's revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.71 earnings per share. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 2nd. Advanced Drainage Systems's dividend payout ratio is currently 10.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WMS. Oppenheimer cut their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating for the company in a research report on Monday, November 11th. Stephens reiterated an "equal weight" rating and issued a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. KeyCorp cut their target price on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Barclays lowered their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Finally, Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $170.29.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.